GED Economic by Sir.YOLO

GED Economic by Sir.YOLO

12th Grade

26 Qs

quiz-placeholder

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GED Economic by Sir.YOLO

GED Economic by Sir.YOLO

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Hard

Created by

Sir yolo

Used 14+ times

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26 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Indicate the worker whose income is not based on the number of hours worked

Donna: hourly wage plus productivity bonus

Julian: part time low hourly wage plus tips

Gerald: full time, weekly salary

Marina: commission

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Indicate the worker whose total income includes a guaranteed base salary plus incentives based on output.

Donna: hourly wage plus productivity bonus

Julian: low hourly wage plus tips

Gerald: full time, weekly salary

Marina: commission

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Profit, which is the incentive for entrepreneurs to open a business, is comparable to what other kind of payment?

interest

rent

taxes

wages

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What federal agency has among its missions ensuring competition?

Consumer Product Safety Commission

Federal Trade Commission

Commerce Department

Fair Trade Commission

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Media Image

What label should be placed at location A?

Demand

Price

Quantity

Supply

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Media Image

What label should be placed at location B?

Demand

Price

Quantity

Supply

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Media Image

Indicate the drawing that represents the factor of production of physical capital.

Factor 1

Factor 2

Factor 3

Factor 4

Answer explanation

Physical capital includes machinery.

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